A. Defendant B shall pay KRW 30,000,000 as well as 12% per annum from November 6, 2020 to the date of full payment.

2. Grounds;

(a) Claim against Defendant B: Judgment by public notice (Article 208(3)3 of the Civil Procedure Act);

(b) Claim against Defendant C: Judgment on deemed confession (Articles 208(3)2 and 150(3) of the Civil Procedure Act)

3. On February 2, 2020, the Plaintiff asserts that part of the claim for loans against Defendant C was partially dismissed, that the Plaintiff loaned KRW 5,000,000 to Defendant C by setting the agreed interest rate of KRW 10% per month, and that Defendant C was paid interest of KRW 1,00,000 on February 2, 2020.

According to the provisions on the maximum interest rate under Article 2(1), (3), and (4) of the Interest Limitation Act, and Article 2(1) of the Interest Limitation Act, the maximum interest rate under the Interest Limitation Act applicable to a monetary lending contract between the plaintiff and the defendant C is 24% per annum, and the portion exceeding the maximum interest rate under the contract is null and void, and the amount equivalent to the excess interest paid where the debtor voluntarily paid the interest exceeding the maximum interest rate shall be appropriated for the principal.

Therefore, Defendant C’s KRW 1,00,000 paid on February 2, 2020 is appropriated for 101,639 won (=5,00,000 per annum x 24% per annum x 31/3666), which is the interest or delay damages calculated at the rate of 24% per annum from January 3, 2020 to February 2, 2020, and the remainder 898,361 won (=1,00,000,000 - 101,639 won). The Plaintiff’s loan principal is appropriated for principal and the Plaintiff’s loan principal is KRW 4,101,639 (=5,00,000,000 - 839,361 won).

Meanwhile, the Plaintiff is deemed to have appropriated the principal amount of KRW 1,00,000 that Defendant C repaid on July 4, 2020. Accordingly, the Plaintiff’s loan principal amount to Defendant C is KRW 3,101,639 (= KRW 4,101,639 - KRW 1,00,000), and Defendant C is obligated to pay to the Plaintiff damages for delay calculated at the rate of KRW 12% per annum from July 25, 2020 to the date of full payment, as sought by the Plaintiff.

If so, the plaintiff's claim for the loan against the defendant C is reasonable within the scope of the above recognition, and the remainder of the claim is without merit.